Chinese Shares Slip After Israeli Attacks on Lebanon; Chalco Up 4%

MT Newswires Live04-09 15:41

Chinese shares fell on Thursday following Israel's attacks on Lebanon after the U.S.-Iran ceasefire.

The Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.7% to 3,966.17. The Shenzhen Component Index slipped 0.3% to 13,996.27.

Sentiment fell on Thursday following Israeli air strikes targeting the southern suburbs of Beirut, southern Lebanon and the eastern Bekaa Valley that killed 182 people, BBC News reported. Israel said the air strikes hit more than 100 Hezbollah command centers and military sites in 10 minutes.

Iranian Minister Saeed Khatibzadeh said Israel's ongoing strikes in Lebanon gravely violate the U.S.-Iran ceasefire, according to the BBC. "[E]verybody in the Middle East [has] to abide by this agreement...and we expect the Americans to do the same with its allies," Khatibzadeh added.

In company news, Aluminum of China (SHA:601600), or Chalco, forecasted first-quarter attributable net profit of between 5.30 billion yuan and 5.59 billion yuan, up between 50% and 58% from 3.54 billion yuan the previous year. Shares of the aluminum producer closed 4% higher Thursday.

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